The Chancellors’ winners and losers

High earners will benefit most from today’s mini budget announcement. Speaking to Business Matters Paul Haywood-Schiefer, Senior Manager at leading tax and advisory firm Blick Rothenberg said: “The reversal of the recent increase to NIC rates will provide savings to all earners, where their income is above around £10,000 per annum (and assuming similar reductions are made […]

IR35 reforms to be scrapped in April 2023

Reforms to the off-payroll working rules, known as IR35, are to be scrapped from April 2023, the Treasury has announced. This will mean that from 6 April 2023, contractors working for an organisation via an intermediary will once again be responsible for determining their employment status and paying the appropriate amount of tax and national […]

Mini Budget: UK needs inclusive economic growth, not isolated hot spots

Professor John Bryson, Chair in Enterprise and Economic Geography at the University of Birmingham offered his opinion about the economic measured announced today by Chancellor Kwasi Kwarteng. Professor Bryson is an economic geographer whose research focusses on understanding people, organisations and the complex ways in which production is organised through space, place and various forms of […]

Made.com plans to cut a third of staff as it seeks buyer or investment

Made.com is seeking a buyer or emergency investment as the embattled online furniture retailer plans to shed more than a third of staff to stretch its dwindling cash reserves. The company, which in July warned of job cuts as increasingly cash-strapped consumers stopped spending on “big-ticket” items, has withdrawn full-year guidance as sales plummet. Made.com […]

Chancellor scraps 45p top rate of income tax

Kwasi Kwarteng has announced that he will scrap the top 45p rate of income tax and cut the basic rate of income tax by 1p next year as part of a “bold and unashamed” push for growth. The chancellor announced £50 billion worth of tax cuts including scrapping the rise in national insurance, freezing corporation […]

Racecourse takings jump post-Covid

Newbury Racecourse reported good-to-firm going in the first half of the year as punters went back to the races after the pandemic. With 15 meetings welcoming paying customers compared with only two last year, and ten behind closed doors, the number of attendants jumped from 4,400 to 57,300, only 2 per cent down on pre-Covid […]